ANDERSON – The average cost of purchasing a home in Madison County increased in April by 10 percent, according to data provided by Indianapolis-based realtor F.C. Tucker.
The data shows the average sales price increased from $82,935 in April 2015 to $91,828 for the past month, an increase of 10.7 percent.
In March, the average sales price increased by 13.4 percent over the previous March.
“Anderson is still showing a more than 10 percent increase in average sales price as compared to a year ago,” Tom Seal, of F.C. Tucker/O.C. Clark in Anderson, said. “That’s about the same increase we have seen all year.”
Jim Litten, president of F.C. Tucker, said the average sales price increase continues to be strong, but is showing signs of tapering off.
“From 2013 to 2015, prices grew rapidly, but now, we’re beginning to level off like we did at the beginning of 2012,” he said.
The number of pending sales for the month of April was down 11.9 percent for the same time period in 2015, but continues to show a 2.3 percent increase for the year in Madison County.
In April, there were 156 pending sales in the county, compared to 177 a year ago.
“Pending sales will fluctuate from month to month, so that small decline is certainly not alarming,” Seal said. “Overall, the real estate market in Madison County is very robust with many listed properties seeing multiple offers, mostly because of the shortage of inventory.”
The data released by F.C. Tucker showed the inventory of houses for sale in Madison County was at 527 as compared to 573 a year ago.
That’s a decrease of 8 percent and is consistent with the 13-county area for which the data is provided, which shows an overall 14.2 percent decline in inventory.
“People are making decisions a little quicker, because a home for sale on Saturday might be sold by Monday,” Seal said.
Overall, for the region, there were 3,003 single-family or condominium home sales in April. The previous April, 2,942 homes sold.